Non-major returns to investment property lending

by Julia Corderoy13 Nov 2015
Non-major lender, AMP Bank, has announced its return into the investor home loan market after pulling out in late July.

In a statement, AMP said it will be accepting investor property loan applications again, effective 16 November, following a temporary withdrawal from the market in response to regulatory growth guidelines.

“The return to investor property lending is in line with AMP Bank’s commitment to return to the market in 2015,” the statement read.

However, the non-major said that investor property lending to SMSFs will remain on hold for now in order to meet its regulatory commitment for its SMSF portfolio, but the bank is expected to return to SMSF lending later this year.

According to APRA statistics, AMP’s investor home loan portfolio dropped by 6% from July to September. AMP’s annual growth in property investment lending, in the year to September 2015, sits well below APRA’s 10% annual growth guideline at 4%.
 

COMMENTS